Charlty reglstration number 1109531 WAT BUDDHARAM (LONDON) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 WAT BUDDHARAM (LONDON) LEGALAND ADMINISTRATIVE INFORMATION Trustees Ven. Phramaha Somchai Wirawat - Chair Maung Maung Thein (Appointed as on 23 November 2024) Woranuch Sleel (Appointed as on 24 Seplember 20231 lan Bunker (Appoinled as on 24 September 20231 Venerable Wisanu Kalinda (Appointed as on 24 September 2023) Boonruk Phosuwan (Appoinled as on 24 September 2023) Daravanh Nokeokouman - Assistant treasurer Suphenphan Injan Thavisack Nokeokouman Ven. Phra Nikom Singlow Navy Wollweber Ven. Anand Sengsavang Uadhya Tapaneyas8S Siripong Kantangkul Charity number 1109531 Senlor Management Ven. Phramaha Somchai Wirawat- Chlef Executive Officor Registered office 77 BLAKE HALL ROAD LONDON E113QX Independent examlner David Terry Ramon Lee Ltd 93 TabernaGle Slreel EC2A4BA London Bankers HSBC PIC. 192 Hoe Street London E17 4QN Triodos Bank Deanery Road Bristol BS15AS Webslte vthv.walbLKldharam.or . WAT BUDDHARAM {LONDON) CONTENTS Page Trustees, report Independent examinels report Statement of financial activities Balance sheet Notes lo the financial slatemenls 8-15 WAT BUDDHARAM (LONDON) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Truslees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set oul in note 1 to the financial slalements and comply wilh the charily's trust deed. the Charilies Acl 2011 and "Accounting and Reportlng by Charities.. Statement of Recommended Practice applicable lo charilies preparing their accolfnts Ir) accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). (effective 1 January 2019). Objectives and activities The objectives ol the charily are.. For the publlc benefit to advance Theravada Ruddhlsm. in particular, but not exclusively. through teaching and instrucllng the public in Ihe Iradilions, practices and beliefs of Theravada Buddhism and through the provision, maintenance and support of a lemple and residential centre for Bhikkhus (monks). To advance Ihe education of Ihe public in the Iradilional languages, festivals and social values of Thalland. and The provision of grants or scholarships students in financial need living or studying in anywhere within the area of benefil Achlevements and performance As previously reported, we were able lo open Inlernel Banking with Triodos Bank and were lold to open another Commercial Bank account in conjunclion wilh exisling Banking facilities wth Triodos Bank. As Triodos Bank uses Natwesl as their Clearing agent, we first of all applied lo open an account with Natwesl bul We were unsuccessful. Secondly we applied for an account to be open al Metro Bank. agaln we were unsuccessful. Fin811y. Ihe Co- operative Bank also declined. The complaint lodged with th8 Ombudsman regarding Ihe HSBC closure ol our accounts was unsuccessful, Our Songkran or Thai New Year celebralion look place al the Sir Ha￿eY Hall in Soulh Woodford on April 9th 2023, Despite having paid a deposit of £1,000 lo secure Ihe samo venue for the Kalhina Celebralion in October 2023. we had lo move our evenl lo the Leyton Great Hall on 5ih Novamber 2023. Due lo the hall reslriclions, the number of allendanls had to be limited. Wal Buddharam was able to perform its usual activities such as daily offerings and making merits by the devotees on-site and off-sile, and meditation lessons on Saturdays. Our voluntcers We are fortunate to have the bonefil of 56 volunteers working in a range of services including cooking and cleaning for (he temple. They are a wonderful complemenl lo our work. Public 8eneflt statement The Trustees consider Ihat they have (x)mplied with Section 17 of the Charities Act 2011 wilh regard to the guidance on publi¢ benefit published by the Charity Commission. Financial review The slalement of Financial Activities showed nel surplus of £60,040 (2023 - £45,325) for the year and reserves stands at £1,243,016 {2023- £1.182.976). Reserves pollcy The Trustees consider il pwdenl lo maintain an adequate level of unrestricled reserves to cover rhe Chartly's conlraclual commitments and provide sufficienl w0￿1ng capital and to accumulate funds lowards the costs of achieving future objectives of the Charily. The unreslricled funds r￿1 designated 01 invested in tangible fixed assets held by the charily are £144,521 {2023- £96,725). WAT BUDDHARAM {LONDON) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Plans for future periods After a pause of 2 years, we restarted Ihe negolialion to purchase a new property located at Sunnyside in Romford. In order lo move. we had to sell the temple 2177 Blake Hall Road In Wan5tead. As a result of a Special Tiuslees meeting of the Charity held on 24th Seplember 2023. the following changes look place.. Truslees changes: Venerable Wisanu Kalmda was appointed as addilional Trustee, in place of Venerable Anand Sengssvang who resigned {and since passed away) Mr lan Bunker was appointed as additional Trustee, in place of Mr Uadhaya Tapaneyasaslr who resigned. His Treasurer's position now vacated is now laken up by Assistant Treasurer Mrs Dafavanh Nokeokouman. Then her resignation as Assistant Treasurer is now being laken by Mrs Woranuch Steel. Mr Boomuk Phosuwan was appointed as additional trustee in place of Mr Siripong K8ntangkul who reslgned. Mrs Woranuch Steel was 8ppoinled as addltlonal trustee in place of Mrs La -iad Tapaneyasaslr {dec8as8d). Appolnlmenl of Tnjstees Worklng Committee . Vènèr8bl6 I'hra Nikom Singlow Mr Thavisad( Nokaokouman Mrs D aravanh Nokeo koum an Miss Sophenphan Injan Mr Navy Wollweber Mr lan Bunker Mr Boonruk Phosuwan Appolnlmenl of Sub-committee . Venerable Phramaha Charoensak Charoenpan Mrs Wassana Bunker Mrs Watcharanuch Woilweber Mr Tinya Wollw8b8r Mr Sompom Mekhlee Miss Srijillra Swaisaenyakom Mrs Numfon Whall Mrs Kanlaya Lambert Wal Buddharam London held its 1 sl annual evenl Songkran on 7th April 2024 al Ihe Leyton Great Hall while actively proceeding with Ihe sale of 77 Blake Hall Road and the purchase of Sunnyside in Romford. The move lo Sunnyside finally look place on 201h August ?.0?.4. Various alleralions, repalrs and improvements were required for the Isl celebration of Kalhina on tho new premises on 27th Oclober 2024. WAT BUDDHARAM (LONDON) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structure, governance and management Governlng document The organisalion was established on 16th January 2005 when the constitution was adopted (later amended 15th May 20051.11 was regislered as a charily on 18th May 2005 witl) the Charity Commission (charity no. 11095311. The organlsatlon Is governed by it's Constitution which sets out the objects and powers of the Charity and governs the acllons of the Trustees. Recruitment and appointment of Trustees The Board of Trustees has the power to appoint additional Twstees as it considers fil lo do so. The Trustees in the office in the year are s81 out on page 4. They have no beneficial interest in the organisation olher than as members and have absolute dis¢r¢tion with regard8 to investment decisions. No Truslee received remuneration during the year for services lo Ihe Trust. Organisation The Board of Trustees, administers the charity. The Board ffleets quarterly to review the affairs of the Charity. All decisions relating to strategy and policy are made by Ihe Board of Tnjstees. Related parties The charity does not have relallonshlps wilh related parties and other charities and organis8tlons with which it rx)- operates in pursuit of ils charitable objectives. Risk Management The Truslccs have a risk management strategy which comprises: An annual review of the risks the charity may face; The eslablishment of systems and procedures lo mitigate Ihose r15ks Ideniified in the plan: Implemenlalion of procedures designed lo minimlse any PK)lenllal Impacl on the charity should those risks materlalise. WAT BUDDHARAM (LONDON) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 statement of Trustees. responsibilities The Trustees are responsible for PTeparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charilies in England and Wales requires the Trustees lo prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources of the chaiity for thal year. In preparing these financial stalemenls. the Trustees are required to.. select suitable accounting policies and then apply them consislently- observe th8 methods and principles in the Charities SORP- make judgements and eslimales that are reasonable and prudent: slate whelher applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial slatemenls; and prepare tha financlal slatemenis on the going concem basls unl6ss it Is Inapproprtale to presume that the charity will continue in operation. The Trustees are responsible for keeping sufficient accnunting records that disclose with reasonable accuracy al any lime the financial position of the charity and enable them lo ensure that Ihe financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charily and hence for taklng reasonable sleps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and Integrity of the charity and financlal Informallon Included on Ihe charity's webslle in accordance wilh legislalion in the United Kingdom governing the preparallon and dissemination of Ilnanclal slatemenls. The Trustees, ortw s approved by the Board of Trustees and signed on its behalf by.. Ven, Phramaha Somchal Wirawat Chair 21 January 2025 WAT BUDDHARAM (LONDON) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WAT BUDDHARAM (LONDON) I report lo Ihe Trustees on my examination of the financial slalements of Wat Buddharam (London) (the charily) for the year end8d 31 March 2024. Thls report is made solely to the charivs trustees, as a b(KJy, In accordance wlth the Charities Act 2011. My work has been undertaken so Ihal I might stale to the ch8ri1y's trustees those matters l am required to stale to Ihem in an independent examiner's report and for no other purpose. To the fullest extent permilled by law, I do not accept or assume responsibility tr) anyone other than the charity and the charity's twstees as a body, for my Independent Examination, for this report. or for the opinions I have formed. ResponslbllltSes and basls of report As the Trustees of the charily you are responsible for the preparalion of the financial slalements in accordance with the requlremenls of the Charilies Act 2011 (the 2011 Act). I report in respect of my examination of the charity's financial statements carried out under secllon 145 of the 2011 Act. In carrying out my examination I have followed all Ihe applicable Directions given by the Charity Cofflrnission under section 145(5)Ib) of the 2011 Act. Indepond6nt examlner's statement Your attention is drawn to the fact that the charlty has prepared financial slalemenls in accordance with Accountlng and Reporting by Charities preparing their accounls in accordance with the Financial Reporting S18ndard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charltles: Slalement ol Recommended Practice Isstsed on 1 April 2005 whlGh Is referred lo in the extant regulations bul has now been withdrawn. l understand that this has been done In order for financlal slalemenls lo provide a true and falr vlew in accordance with Generally Accepted Accounling Practi￿ effeclive for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my allenlion in connecllon wlth th8 examination giving me cause to believe thal in any material respect.. accounting records were not kepl in respect of Ihe charily as required by section 130 of Ihe 2011 Act: or Ihe financial statements do not acwrd with those records,. or the flnancial slalements do not comply with the applicabSe requirements concerning the form and conlenl of accounts sel out in the Charlties (Accounls and Reporis) Regulations 2008 other than any requirement that the accounts 9ive a true and fair view which is nol a matter considcrcd as part of an independenl examination. I have no concerns and have come across no other m31lers in conneclion with Ihe examination to which attention should be drawn in this report in order to enable a proper understanding of the financial slatemenls to be reached. David Terry Ramon Lee Ltd 93 Tabernacle Street EC2A 4BA London Dated: 21 January 2025 WAT BUDDHARAM (LONDON) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Rèstrlcled funds funds Total 2024 Total 2023 Notes Income from: Donations and legades Investments 157,834 530 13,282 171,116 530 124,107 30 Total Income 158.364 13,282 171.646 124,137 Ex endlture on: Raising funds Charllable activities 51,290 60,316 51.290 60.316 34,111 44.701 Total expenditure 111.606 111.606 78,812 Net Income for the yearl Net movement In funds 46.758 13.282 60.040 45.325 Fund balan￿S at 1 April 2023 1,128.644 54.332 1,182,976 1,137,651 Fund balances al 31 March 2024 1,175.402 67,614 1,243,016 1,182,976 The slalement of financial activities indudes all gains and losses recognised in Ihe year. All income and expendllure derlve from continuing acliwlies. The notes on pages 8 to 15 form part of these financial stslemenls. WAT BUDDHARAM (LONDON) BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Flxèd assets Tanglbla ass8ts 1,030,881 1,031.919 Current assets Debtors Cash al bank and in hand 10 3.729 365.707 14.130 301,105 369,436 315,235 Creditors: amounts falllng due wlthln one year 11 <20.126) {25,234J Nel Current assets 349,310 290,001 Total assots less current Ilabllllles 1.380,191 1.321,920 Creditors: amounts falllng due after more than one year 12 (137,175) {138,944) Net assets 1.243.016 1.182,976 Income funds Reslricted funds Unrèslricled funds 14 67,614 1,175.402 54,332 1,128,644 1,243.016 1,182,976 The notes on pages 8 to 15 form part of these financial statements. Th8 finane.ial .8121emenls were approved by the Trustees on 21 January 2025 and were signed on Its behalf by.. Ven. Phramaha Somchai Wirawat Trustee WAT BUDDHARAM (LONDON) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies 1.1 Accountlng convention The financial slalements have been prepared in accordance with the charity's trust deed. the Charities Act 2011, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102") and Ihe Charities SORP "Accounting and ReFK)rttng by Charities: Slatement of Recommended Practice applicable to charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)"